India Deal Monitor: E-pharmacy 1MG secures $13.5m and more updates

1MG Technologies Pvt Ltd, which operates online pharmacy 1MG, has raised about $13.5 million in funding from Tata Sons’s digital services subsidiary Tata Digital.

According to Entrackr, Tata Digital is picking up Rs100 crore worth of compulsory debentures in 1mg ahead of acquiring a controlling stake in the Gurugram-based company.

1MG, founded in 2015 by Anurag Mundhada, Gaurav Agarwal, Prashant Tandon, Sameer Maheshwari, and Vikas Chauhan, allows users to find information about medicines prescribed by doctors and buy them.

Last year, the company raised about $10 million in funding from the Bill & Melinda Gates Foundation. It closed its $70-million Series D funding round in 2019, led by European family office Corisol Holdings and the International Finance Corporation.

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